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Northern Dynasty rolls out Pebble Mine revenue sharing plan

  • Northern Dynasty Minerals (NYSE:NAK +0.7%) unveils a revenue sharing program it says will ensure local residents benefit from the operations of the proposed Pebble Mine in Alaska.
  • The company says it is launching a profit-sharing plan to distribute a 3% net profit royalty interest from the copper, gold and molybdenum mine.
  • The mine will not make a profit during its initial years of construction, but Pebble says it will provide $3M annually during that period to ensure a dividend.
  • An Alaska Native corporation opposed to the project says the dividend program is an attempt to win support in a region that has rejected the project.
  • Northern Dynasty shares have been rising since the Environmental Protection Agency declined to pursue "elevation" under the Clean Water Act over the Pebble Mine.

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